MCS 1000 FINAL EXAM STUDY GUIDE | 2026|
GUARANTEED PASS
Marketing - Answers -activity of creating, communicating, delivering and exchanging
offerings that benefit the organization, its stakeholders and society at large
1. Two or more parties with unsatisfied needs
2. desire and ability on their part to be satisfied
3. a way of parties to communicate
4. something to exchange - Answers -requirements for marketing to occur
Market - Answers -people with the desire and ability to buy specific product
Social Marketing - Answers -designed to influence the behaviour of individuals in which
the benefits od those behaviour accrue to those individuals or to society in general and
not to the marketer
Ultimate consumers - Answers -all people who use the goods and services purchased
for a household
organizational buyers - Answers -maufacturers, wholesalers, retailers, and government
agencies that buy goods and services for their own use
target market - Answers -one or specific groups of potential consumers towards which
an organization directs its marketing program
1. Product
2. Price
3. Promotion
4. Place - Answers -4 P's of Marketing
Marketing mix - Answers -marketing actions of 4 Ps, that he or she can take to create,
communicate and deliver value
environmental forces - Answers -uncontrollable factors involving social , economic,
technological, competitive and regulatory forces
marketing program - Answers -a plan that integrates the marketing mix to provide a
good or service, or idea to prospective buyers
Production Era - Answers --central notion was products would sell themselves
Sales Era - Answers --more goods made than consumed
,-competition grew
-more sales people hired
Marketing concept (era as well) - Answers -idea that an organization should strive to
satisfy the needs of consumers, while also trying to achieve goals
Marketing orientation (era as well) - Answers -1. continuously collecting information
about customers
2. sharing this information throughout the organization
3. using information to create value
customer value - Answers -unique combination of benefits received by the customer
that include quality, price, convenience, on time delivery and both before-sale and after
sale service
customer satisfaction - Answers -match between customer expectations of the product
and the product's actual performance
customer relationship management - Answers -process of devleoping long term
relationships
customer lifetime value - Answers -profit generated by the customer's purchase of an
organziations product or service over customers life time
eCRM - Answers -a web-centric personailized approach to managing long term
customer relationships electronically
interactive marketing - Answers -involves two way buyer seller electronic
communication in which the buyer can control the kind and amount of information
received from the seller
customer experience management - Answers -managing the customers interactions
with the organization at all levels
social media marketing - Answers -consumer generated online marketing efforts to
promote brands and companies for the ones they like
social CRM - Answers -the use of social media to enable organizations to engage
customers in collaborative conversations for mutually beneficial value
ethics - Answers -the moral principles and values that govern the actions and decisions
of individual or group
social responsibility - Answers -individuals and organizations are part of a larger society
and are accountable to that society for their actions
,societal marketing concept - Answers -view that an organization should discover and
satisfy the needs of its consumers in a way that also provides for society's well being
macromarketing - Answers -aggregate flow of a nation's goods and services to benefit
soceity
micromarketing - Answers -how and individual organization directs its marketing
activities and allocates its resources to benefit its customers
consumer behaviour - Answers -actions that a person takes in purchasing and using
products and services, including the mental and social processes that precede and
follow these actions
purchase decision process - Answers -stages a buyer passes through in making
choices about which products and services to buy
5 stages of purchase decision process - Answers -1. problem recognition
2. information search
3. alternative evaluation
4. purchase decision
5. post-purchase behaviour
evaluative criteria - Answers -factors that represent both the objective attributes of a
brand and the subjective ones
consideration set - Answers -The group of brands that a consumer would consider
acceptable from among all the brands of which he or she is aware.
cognitive dissonance - Answers -Feeling of post-purchase psychological tension or
anxiety.
involvement - Answers -The personal, social, and economic significance of the
purchase to the consumer.
situational influences - Answers -Conditions that have an impact on your purchase
decision process: (1) the purchase task, (2) social surroundings, (3) physical
surroundings, (4) temporal effects, and (5) antecedent states.
motivation - Answers -The energizing force that causes behaviour that satisfies a need.
personality - Answers -A person's consistent behaviours or responses to recurring
situations.
national character - Answers -A distinct set of personality characteristics common
among people of a country or society.
, self-concept - Answers -The way people see themselves and the way they believe
others see them.
perception - Answers -The process by which an individual selects, organizes, and
interprets information to create a meaningful picture of the world.
subliminal perception - Answers -Means that you see or hear messages without being
aware of them.
selective comprehension - Answers -interperting information so it is consistent with
attitudes and beliefs
selective rentention - Answers -consumers don't always remember all the information
they are exposed to
perceived risk - Answers -The anxiety felt because the consumer cannot anticipate the
outcomes of a purchase but believes that there may be negative consequence
learning - Answers -Those behaviours that result from (1) repeated experience, and (2)
thinking.
behavioral learning - Answers -process of developing automatic responses
cognitive learning - Answers -learn using mind, problem solving without direct
experience
brand loyalty - Answers -A favourable attitude toward and consistent purchase of a
single brand over time.
values - Answers -Personally or socially preferable modes of conduct or states of
existence that are enduring.
beliefs - Answers -A consumer's subjective perception of how well a product or brand
performs on different attributes.
attitude - Answers -A learned predisposition to respond to an object or class of objects
in a consistently favourable or unfavorableopinion leaders way.
lifestyle - Answers -A mode of living that is identified by how people spend their time
and resources, what they consider important in their environment, and what they think
of themselves and the world around them.
opinion leaders - Answers -Those knowledgeable about users of particular products
and services, and so their opinions influence others' choices.
word of mouth - Answers -The influencing of people during conversations.
GUARANTEED PASS
Marketing - Answers -activity of creating, communicating, delivering and exchanging
offerings that benefit the organization, its stakeholders and society at large
1. Two or more parties with unsatisfied needs
2. desire and ability on their part to be satisfied
3. a way of parties to communicate
4. something to exchange - Answers -requirements for marketing to occur
Market - Answers -people with the desire and ability to buy specific product
Social Marketing - Answers -designed to influence the behaviour of individuals in which
the benefits od those behaviour accrue to those individuals or to society in general and
not to the marketer
Ultimate consumers - Answers -all people who use the goods and services purchased
for a household
organizational buyers - Answers -maufacturers, wholesalers, retailers, and government
agencies that buy goods and services for their own use
target market - Answers -one or specific groups of potential consumers towards which
an organization directs its marketing program
1. Product
2. Price
3. Promotion
4. Place - Answers -4 P's of Marketing
Marketing mix - Answers -marketing actions of 4 Ps, that he or she can take to create,
communicate and deliver value
environmental forces - Answers -uncontrollable factors involving social , economic,
technological, competitive and regulatory forces
marketing program - Answers -a plan that integrates the marketing mix to provide a
good or service, or idea to prospective buyers
Production Era - Answers --central notion was products would sell themselves
Sales Era - Answers --more goods made than consumed
,-competition grew
-more sales people hired
Marketing concept (era as well) - Answers -idea that an organization should strive to
satisfy the needs of consumers, while also trying to achieve goals
Marketing orientation (era as well) - Answers -1. continuously collecting information
about customers
2. sharing this information throughout the organization
3. using information to create value
customer value - Answers -unique combination of benefits received by the customer
that include quality, price, convenience, on time delivery and both before-sale and after
sale service
customer satisfaction - Answers -match between customer expectations of the product
and the product's actual performance
customer relationship management - Answers -process of devleoping long term
relationships
customer lifetime value - Answers -profit generated by the customer's purchase of an
organziations product or service over customers life time
eCRM - Answers -a web-centric personailized approach to managing long term
customer relationships electronically
interactive marketing - Answers -involves two way buyer seller electronic
communication in which the buyer can control the kind and amount of information
received from the seller
customer experience management - Answers -managing the customers interactions
with the organization at all levels
social media marketing - Answers -consumer generated online marketing efforts to
promote brands and companies for the ones they like
social CRM - Answers -the use of social media to enable organizations to engage
customers in collaborative conversations for mutually beneficial value
ethics - Answers -the moral principles and values that govern the actions and decisions
of individual or group
social responsibility - Answers -individuals and organizations are part of a larger society
and are accountable to that society for their actions
,societal marketing concept - Answers -view that an organization should discover and
satisfy the needs of its consumers in a way that also provides for society's well being
macromarketing - Answers -aggregate flow of a nation's goods and services to benefit
soceity
micromarketing - Answers -how and individual organization directs its marketing
activities and allocates its resources to benefit its customers
consumer behaviour - Answers -actions that a person takes in purchasing and using
products and services, including the mental and social processes that precede and
follow these actions
purchase decision process - Answers -stages a buyer passes through in making
choices about which products and services to buy
5 stages of purchase decision process - Answers -1. problem recognition
2. information search
3. alternative evaluation
4. purchase decision
5. post-purchase behaviour
evaluative criteria - Answers -factors that represent both the objective attributes of a
brand and the subjective ones
consideration set - Answers -The group of brands that a consumer would consider
acceptable from among all the brands of which he or she is aware.
cognitive dissonance - Answers -Feeling of post-purchase psychological tension or
anxiety.
involvement - Answers -The personal, social, and economic significance of the
purchase to the consumer.
situational influences - Answers -Conditions that have an impact on your purchase
decision process: (1) the purchase task, (2) social surroundings, (3) physical
surroundings, (4) temporal effects, and (5) antecedent states.
motivation - Answers -The energizing force that causes behaviour that satisfies a need.
personality - Answers -A person's consistent behaviours or responses to recurring
situations.
national character - Answers -A distinct set of personality characteristics common
among people of a country or society.
, self-concept - Answers -The way people see themselves and the way they believe
others see them.
perception - Answers -The process by which an individual selects, organizes, and
interprets information to create a meaningful picture of the world.
subliminal perception - Answers -Means that you see or hear messages without being
aware of them.
selective comprehension - Answers -interperting information so it is consistent with
attitudes and beliefs
selective rentention - Answers -consumers don't always remember all the information
they are exposed to
perceived risk - Answers -The anxiety felt because the consumer cannot anticipate the
outcomes of a purchase but believes that there may be negative consequence
learning - Answers -Those behaviours that result from (1) repeated experience, and (2)
thinking.
behavioral learning - Answers -process of developing automatic responses
cognitive learning - Answers -learn using mind, problem solving without direct
experience
brand loyalty - Answers -A favourable attitude toward and consistent purchase of a
single brand over time.
values - Answers -Personally or socially preferable modes of conduct or states of
existence that are enduring.
beliefs - Answers -A consumer's subjective perception of how well a product or brand
performs on different attributes.
attitude - Answers -A learned predisposition to respond to an object or class of objects
in a consistently favourable or unfavorableopinion leaders way.
lifestyle - Answers -A mode of living that is identified by how people spend their time
and resources, what they consider important in their environment, and what they think
of themselves and the world around them.
opinion leaders - Answers -Those knowledgeable about users of particular products
and services, and so their opinions influence others' choices.
word of mouth - Answers -The influencing of people during conversations.
